General Discussion

SamuelTheThird

(1,298 posts) Fri May 29, 2026, 11:38 AM Yesterday

Oil Prices Could Hit $160 Within Weeks

yikes

Exxon SVP Neil Chapman warned at the Bernstein conference that global oil inventories are approaching 'unheard of' lows and models show Brent crude could spike to $150-$160 once the operational floor is reached.
Chevron CEO Mike Wirth said the market's shock absorbers have been 'steadily drawn down' and expects direct upward pressure on physical prices in June and July, with Hormuz still blocking 12-13 million barrels per day.
Goldman Sachs data shows global inventories plunged a record 8.7 million barrels per day in May alone, while JPMorgan previously calculated only 0.8 billion of 8.4 billion total global barrels were realistically available before operational stress.

https://oilprice.com/Energy/Oil-Prices/Supermajor-Warns-Oil-Prices-Could-Hit-160-Within-Weeks.html

5 replies

= new reply since forum marked as read

Highlight:

Oil Prices Could Hit $160 Within Weeks (Original Post) SamuelTheThird Yesterday OP

He's on a Pace to Achieve One of His Greatest F-ups Ever The Roux Comes First Yesterday #1

Oil prices are dropping big time. onenote Yesterday #2

Temporary SamuelTheThird Yesterday #3

+1. Americans are going to have a shitty summer. dalton99a Yesterday #4

We're sleep-walking into catastrophe SamuelTheThird Yesterday #5

The Roux Comes First

(2,360 posts)

1. He's on a Pace to Achieve One of His Greatest F-ups Ever

Reply to SamuelTheThird (Original post)

Fri May 29, 2026, 11:44 AM

Yesterday

And this is a slime-ball who has been cheering and bragging about his F-ups as victories the whole time he's been riding his inherited and extorted winnings into the ground.

The All-time Biggest Loser!

onenote

(46,254 posts)

2. Oil prices are dropping big time.

Reply to SamuelTheThird (Original post)

Fri May 29, 2026, 12:11 PM

Yesterday

West Texas -- below $88
Brent Crude - $92
Murban Crude -- $92.50

All were over $100 not long ago.

And prices the pump, while well above pre-Iran war levels, have been dropping as well.

SamuelTheThird

(1,298 posts)

3. Temporary

Reply to onenote (Reply #2)

Fri May 29, 2026, 12:15 PM

Yesterday

US, China, and most others are using their strategic reserves. As well there's price manipulation and hopium based on algos trading the constant bs deal headlines.

Get back to me at the end of july

dalton99a

(95,626 posts)

4. +1. Americans are going to have a shitty summer.

Reply to SamuelTheThird (Reply #3)

Fri May 29, 2026, 12:30 PM

Yesterday

SamuelTheThird

(1,298 posts)

5. We're sleep-walking into catastrophe

Reply to dalton99a (Reply #4)

Fri May 29, 2026, 04:00 PM

Yesterday

Reply to this discussion